Description:

The Neighborhood Revitalization Tax Credit Program (NRTC) provides business entities a 100 percent tax credit for funds provided to nonprofit entities carrying out comprehensive revitalization plans. Nonprofit entities must use at least 60% of the tax credit funds for housing and economic development; the remaining funds may be used for supportive services and other activities that promote neighborhood revitalization.

Assistance Provided To:

Nonprofit 501(c) 3 organizations in municipalities eligible to receive aid under the "Special Municipal Aid Act" or "Abbott Districts"

Type of Assistance:

Financial - Grants

Funding Source: 

Corporate Funds

Award Period: 

Rolling

Procedure for Applying:

Submission of a Project Application, via SAGE. Restricted to eligible organizations with DCA-approved NRTC plans.

Application Deadline: 

N/A

Date of Notification: 

Varies

Contact:

Bradley Harrington - (609) 633-6273
Bradley.Harrington@dca.state.nj.us 

Christopher Hibbs - (609) 633-6264
Christopher.Hibbs@dca.state.nj.us

***FREQUENTLY ASKED QUESTIONS about changes to the NRTC Program, for both neighborhood-based non-profits and business entities (December 2012) [MS Word 22kB]
***ADDITIONAL INFORMATION about the NRTC changes, for business entities that want to make an NRTC contribution [pdf 510kB]

Program Overview:
The Neighborhood Revitalization Tax Credit Program (NRTC) is designed to foster the revitalization of New Jersey's distressed neighborhoods. NRTC offers business entities a 100 percent tax credit against various New Jersey state taxes. Credits are provided to business entities that invest in the revitalization of low- and moderate-income neighborhoods in eligible cities. Sixty percent of the tax credit funds must be used for activities related to the development of housing and economic development. The remaining balance may be used for complementary activities such as the provision of assistance to small businesses, removing barriers to self-sufficiency, and promoting the integration of mixed-income neighborhoods. A total of $10 million per year is available in tax credits.

NRTC funds are used by neighborhood-based non-profit organizations that have prepared, submitted and received approval from the Department for a revitalization plan for the neighborhood it serves. The funds must be used by the eligible organizations for projects and activities that will implement the goals and strategies of the approved neighborhood plan. The maximum amount per application is $1 million. NRTC rules and policies govern the number of applications and grants that an eligible organization may submit and receive.

Information about NRTC projects in need of funding can be found in the "Clearinghouse" document (which is updated regularly by NRTC staff) and in the "Project Profiles" section (these are submitted periodically by eligible organizations).

Clearinghouse of NRTC Plans, Projects and Business Entities:

NRTC Guides, Instructions, Information:

NRTC Program Regulations:

NRTC Program Approved Policies:


NRTC Eligible Municipalities: 

Completed NRTC Projects/Activities:

  • Page Under Construction

 Additional Funding Opportunities to Support the NRTCP: